- Registering and regulating insurance companies.
- Protecting policyholders' interests.
- Licensing and establishing norms for insurance intermediaries.
- Promoting professional organisations in insurance.
- Regulating and overseeing premium rates and terms of non-life insurance covers.
What are the functions of IRDA Mcq?
The function of IRDA is to regulate insurance business in India.
What are the three main provisions of the IRDA Act?
(a) all Government grants, fees and charges received by the Authority; (b) all sums received by the Authority from such other source as may be decided upon by the Central Government; (c) the percentage of prescribed premium income received from the insurer.
What are the features of IRDA?
The duties, powers and functions of IRDAI are as follows: Regulating investment of funds by insurance companies. Supervising the functioning of the Tariff Advisory Committee. Promoting and regulating professional organisations connected with the insurance and re-insurance business.
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